On August 18, Samsung Heavy Industries announced that it had signed contracts with two Oceania shipowners to build six liquefied natural gas (LNG) carriers. The total order value is 2.1 trillion won (about US$1.52 billion), and the average cost of each vessel is about US$253 million.
Specifically, the two Oceania shipowners have placed orders for four and two vessels, respectively, with order values of 1.435 trillion won and 705.7 billion won. The vessels are expected to be delivered to the shipowners in batches by November 2028. This is Samsung Heavy Industries’ first announcement of new buildings in nearly four months. The previous order was for two container ships.
With the latest orders, Samsung Heavy Industries has received orders for 25 new vessels worth approximately US$4.8 billion so far this year, achieving approximately 49% of its annual order target of US$9.8 billion.
Among them, the merchant ship sector has achieved approximately 70% of its annual target of US$5.8 billion, reaching approximately US$4.1 billion. The offshore engineering sector obtained a preliminary FLNG contract worth approximately US$700 million in July and is currently moving forward with the signing of the main contract. It plans to obtain another FLNG unit by the end of the year to achieve its target.
By ship type, the contracts include 7 LNG carriers, 9 shuttle tankers, 2 ethane carriers, 4 crude oil carriers, 2 container ships and 1 preliminary contract for offshore engineering equipment.
“Demand for eco-friendly ships is expected to remain steady amid the International Maritime Organization’s decision to introduce a global carbon tax in shipping,” a Samsung Heavy official said. “We will continue to seek selective orders with a focus on profitability.”
As of August 18, only 15+1 LNG carriers have been ordered globally this year, a significant decrease compared to the same period last year. The majority of this year’s LNG carrier orders have been secured by South Korean shipyards, with Samsung Heavy Industries securing 7 orders, Hanwha Ocean securing 2 orders, and HD Hyundai Samho securing 5 orders. The remaining 1+1 orders are being built by Hanwha Philly Shipyard. Chinese shipyards have not yet disclosed any LNG carrier orders for this year.
It is worth noting that this year the world’s first LNG carrier was contracted by Samsung Heavy Industries, owned by Celsius Tankers, with a vessel specification are 180,000 cubic meters.